For the text box, you also need to set its tag value.
There can only be ONE form_current event for the form, so put both combobox and textbox updates into the one event handler as shown below.
private sub combo1_afterupdate()
me.combo1.tag = me.combo1
end sub
private sub Text1_afterupdate()
me.Text1.tag = me.Text1
end sub
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private sub form_current()
if me.newrecord then
me.combo1 = me.combo1.tag
me.Text1 = me.Text1.tag
end if
end sub